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20131210
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that 200 positions will be eliminated from the office of the secretary of defense, but he said there will not be a large number of immediate layoffs. reductions that i have announced today will occur through a process of natural attrition in order to minimize the impact on our workforce. if the department is forced to one steep sequestration cuts the order of $500 billion, we may need to implement additional reductions. hagel adds that cuts will save about $1 billion over time. coming up, the fed says factories are giving the u.s. economy a boost but the latest beige book data is out. we will look at what else is expanding when "bottom line" on bloomberg television continues in just a moment. ♪ collects welcome back. let's show you how the equity markets finished. stocks fell for a fourth day. the longest him in 12 weeks. investors weighed economic data for clues on the timing of central banks stimulus cuts. also watching for new developments in a possible budget deal in washington. now let's get to the numbers. the market index was down two points. at the dow jones industria
in israel's security. what the israeli defense force has become. when will israel feel secure enough so that it can make a kind of agreement so that it state ensure a two- solution? many are arguing now that that idea is slipping away. because of the demographics, and other factors. >> it is a very, dated issue. when you ask me when will israel , a statement by golda mehr comes to mind when she said, we will forgive you for killing our children. we will never forgive you for forcing us to kill years. -- forcing us to kill yours. say, israeling to is reaching out for peace. not because there is a big love between the arabs and the jews, but because it is in israel's interest. like prime minister netanyahu understand that. against many in his own party he said, two states for two people. in thee devil is details, but in the name of the government of israel benjamin netanyahu made that statement. >> the present secretary of state, the present president, the former president bill clinton, former secretary of state hillary clinton, and most americans in the leadership, settlements,that incre
pictures where the picture is the story. yemenbomb destroyed a defense ministry complex. it was followed by a raid on the facility. the attack left 25 people dead and 70 wounded. in florida, more than 40 pilot whales are stranded in shallow water. they are beaching themselves in the everglades national park. rescuers are using small boats to try to push them to deeper water, where they stand eight greater chance of survival. protesters in ukraine raised a flag as a show of defiance against the government. protests and rallies have been staged in the last week when the president abruptly decided not to sign a trade deal with the european union. critics believe that they will strengthen ties with russia and dead. china is asserting itself on all fronts. they are redefining their defensive airspace. their warning citizens against excessive pollution than expanding the use of bitcoin. the digital currency has been soaring in value, getting more than 8000%. more brief time, it was valuable than gold. are we in a double? alan greenspan think so. >> you have to stretch your imagination to infer
? >> that is largely driven by defensive space side, spending is down, u.s. down and down.e and they have decided the growth is in airbus and they need do you have the says side. that is what is being discussed. job cuts in the thousands. we don't know how many but it is essentially trying to put the a scale thatess on the budgets can support. how much are we talking about? i love to give me numbers about people cut. >> it is quit significant. ou have to keep in mind the eads is cutting jobs. lockheed martin has announced cuts and eads hasn't done that the defense side. it is harder in europe and it is chance to do this. i think they will try to do it in one bite. > and we should hear announcements the next phenomena hours? >> latered it. very much.u boeing's plane that looks ike the 737 is a hill advanced mechanical tiilitary aircraft. the u.s. navy deployed several to the japan to increase presence around the disputed islands. deployment for the aircraft which has been in development for nearly a decade. is a look at the game the ing capabilities of p-8. >> in 20 minutes it is "surveillance"
defense. what is the latest? >> these a lot -- these findings came out late on friday, facing trial in january, we know that he will not testify in this case and that he intends to assert his constitutional rights, but that he did produce a 40 pages of the main deposition with the sec in which he stated he made trades in shares of wyatt since acquired by pfizer based on advice from a friend and fellow hedge fund manager. they say that this bolsters the defense and he says he wants to prove that he had nothing to do with the decision to liquidate those holdings and short sale stocks in 2008, he faces 20 years of convicted. >> so, what is in the 40 pages? >> he told as a see back in may that his trades were based on advice from a friend. wives areinner, the friendly, "he considers wayne one of the great health care paystors and said he would him $20 million per year is a consultant. >> we mentioned this is one of two cases, but the steinberg case? thise third week of trial, could be the longest cross examination ever. it involves the government's star witness and former technology ana
fake. it is his job to stand up and tell the truth. when he says we can raise spending for defense back to the or domestic, level that is evidence we're going in the wrong direction. >> that has to hurt. he was president reagan's top budget man. they're supposed to be in ryan's corner. stockman says going back on the sequestration is a load of, you decide. >> it is a washington beltway lie that we cannot live it with a six hundred billion of outlays for defense. 50% more than we had in 2000. we had no new industrial in the 200s with us since then billion more than bill kenton -- bill clinton left in today's real dollars. >> can you get behind a deal that comes out of the stocks? a total joke. i hope at least 70 people would understand if they do not get at entitlement reform it is going .o be far worse later the republicans would be right to reject this a deal. >> there's plenty more where that came from. he calls janet yellen the architect of said disaster and says this is dangerous. you can watch online at bloomberg.com/television. we are off to wall street and an exclusive look insid
has some spin. the documents are pretty clearly contradicting in a defense here. it appears to be clear that they are exchanging hiring for business. >> there kind of a gray area here. >> there has to be a quid pro quo. it is not that companies do not do this all the time. all companies are constantly hiring people to do internships. perhaps in the hope that they get business. there is no explicit tie between the two things. that is the gray area here. at this point, we do not know. otherwise, there would be prosecutions already. thisey said that we hired guy and got this amount of revenues. whether we want to believe them or not, they have offered a defense. they say that this was a post de facto spreadsheet. they did not get that much. >> go ahead. >> mike is right. it certainly is great. i did not say it was illegal. it appears to be illegal. there are a lot of facts that we do not know. companies do this throughout the world. the problem is, while it may be a competitive problem, the united states public policy established that u.s. companies are simply not going to be a
it will one leave apart. is expanding its air defenses zone, adding to regional tensions sparked by beijing similar move. korea's his own covers two islands and a submerged rock. discuss the issue when he visited seoul, beijing, and tokyo. north korea has now confirmed un'swall of kim jong uncle. he was seen closest to the camera. over the weekend, the shot was tighter. this is the second most powerful figure. charged with corruption, drug use, and other antistate acts. fog is forecast once again. conditions have been like this for nearly a week, prompting an orange alert for severe weather. it left her stranded on the side of the road. >> south africa will hold a memorial service for nelson mandela. at least 200,000 people are expected to attend. his body will then lie in state editorial until the middle of the week ahead of sunday's villa. specialrose has a program remembering nelsen mandela were his guests give us his memories and antidotes. >> what was interesting is that they really talked about his politics. people forget he loves ports and boxing. he's to practice boxing in his jail
. people are spending. thatere aeadthrough from , that you switch away from the defensive side of things and play this recovery story through buying cyclical? >> yes. -- global equities, yes, we believe in a cyclical stance. we believe that much of the year in 2014 is likely to be more about cyclicals. in china specifically, there are a number of other risks. we have a neutral view on china and that stems from the fact that there are places that look attractive but also a lack of catalysts. if you look at exports, let's put these in perspective. they beat expectations. consistente really with a tone that we have seen over the last few months, stability rather than acceleration in growth. what the markets are concerned about are the key risks that may come from the policy reform environment. many of the measures from the third plenum are positive. but they do raise some questions on soe's which ought to be part of the index. attractiveat valuation may be a reason to continue holding some chinese equities. what we are struggling to find is a catalyst to drive those up in a big way. the dat
to ease tensions over china's new air defenses on. we will be back as well with the opening bell. ♪ >> welcome back. it is 26 minutes after the hour. the latest on futures right before the bell today. we are seeing this rally. >> we are seeing a rally. it could be the end of five days in the s&p hundred. futures -- one percent. the better than expected november jobs report. 3000 in november. the unemployment rate falling to seven percent. we saw prices declining. as high as 2.93%. now at 2.78%. the dollar strengthened versus the yen. gold is currently down. fell initially and bounceback up a little bit and is off right now at 12:30. we are on the markets once again in 30 minutes. >> thank you. stock investors poised to respond to this morning's report. i want to bring in mohammed, the chief executive and co-cio at pimco, the near $2 trillion fund manager. also our economics editor, pouring through the report. mohammed, first off, we have had several guest and commentaries saying this report makes it a 50-50 chance the fed moves on this monetary policy month. are you in that sam
a real credibility issue that they are not addressing. publicly or privately. as a defense, usually the defense is twofold. one is structural. you raised her notices and tighten up or. one is to go after the guy who is attacking you. usually, he is incompetent. you do not vote display. there is no slate tebow. you're not allowing that to proceed. going out and bad mouthing him -- he compounded and it will be a long conversation. isn't it fair to say, good or bad, there is no one like bill lachman? his investors know his style. he is met with skepticism at the onset. look at what he did. do you think it is a huge shock to his investors? i would be the first to say, is this a trade or a crusade? it seems like a crusade, and that is risky. >> the investors know what they're getting into. einhorn --s, david they are up 20%. ackman will come in in low double digits. i do not know his december results. that is an underperformance. yes, he will expect to get some pressure. anthinks outside the box in area where everyone is in. >> what does that make you think, though? he is putting a massi
clinical concerns. we have air defense and id zones. will -- my guess is, for 2014, risk assets will continue to get a bid and we will see the markets go up. it will be a volatile and scary ride. is coming the horse up and you guys at j.p. morgan -- it is really quite contrary. healthy global economy. optimism in equities. select event fixed income. emerging market differentiation. it is your strategy. >> what you need to do when you have such a big district network is keep it tebow. but some acronyms and place a people remember. and i think it was mostly for me because it is easy for me. ultimately, it is about bird brains like myself. i think they are all relatively important. at the end of the day, what we are recommending is these markets and economies to john's point are improving and you have to continue to take that risk to step back into risk assets. >> we have the u.s., four months average of up to hundred thousand jobs, right? what about europe? demand is picking up in europe as well and that helps boost to the chinese export figures over the weekend. what does it look
with the chinese president. he wants to discuss tensions over an air defense zone in the east china sea. japan has its own zones to protect its claim to strategicically important islands. the port of hamburg has listen closed as german and danish residents cope with a strong north sea storm. london also closed the gates it is a storm passed through the british islands. 100,000 are without power. well wishers are mourning the death of nelson mandela. he died yesterday at 95. david cameron spoke about the freedom fighter late last night. >> one of the brightest lights in our world has gone out. nelson mandela was not just a hero of our time, but a hero of all time. >> well, nelson mandela served for five years as south africa's first black president after his african national congress party helped end apartheid in 1994. here is a look at his legacy. >> a free man taking his first steps into a new south africa. >> from prisoner to president. nelson mandela's 1990 release from jail signaled the end of apartheid. he would go on to become the country's first truly democratically elected leader. >> i nel
was over china's new defense zone that is owned over him and that both japan and china claim to own. biden did not comment on the islands after the first meeting, but said that the chinese leader was candid and constructive. the two are set to meet later today. and a hong kong, look at pollution set to -- at toxic levels. an aging fleet of diesel buses and trucks combined with sunny, dry weather has caused pollution to spike in recent days in the city. speaking of smog, here is a building that eats it. in mexico city, this building can effectively consume the amount of smog produced by 1000 cars per day. it is how a city that was once the world's most polluted is cleaning itself up. ? >> in the city, online retail giant that post move from its headquarters to the center of town. it actually enjoyed something of a renaissance, creating a whole new community in the process. bloomberg checked it out. >> las vegas, always the town where fortunes are won and lost, but few are actually made here. >> to hear that we are moving to vegas is shocking to many people. they are like, why? >> he spent h
scenario. in the defense authorization bill that has to be passed by the end of the year. i do not think they will be able to get sanctions in a definitive way of greed upon by the close of the year. they might be up to get a resolution about future sanctions. is not the only diplomatic challenge. there is afghanistan. chuck hagel on a recent trip. what are the sticking points to a bilateral agreement hawaii has an afghan president karzai signed off? there is still tension between the powers that be in the united states. >> it is quite troubling what we have seen in the past few weeks with karzai not willing to sign. we thought he was. -- it seems to be similar to what they were in iraq. not getting a sticking agreement. highlight deja vu. >> how bad is it? hagel would not meet with karzai? >> he snubbed karzai. karzai said he would not let -- you wantallow certain detainees released from guantanamo. he said he might be postponing signing an agreement until april. the u.s. is not ok. the end of they year. they need to start planning the troops will stay. joined me.ler good to see you. co
's his job to stand up and tell the truth. and when he says we can raise spending for defense back to the pre-sequester level or for domestic, that is just evidence that we're going in the wrong direction. we can easily live with the sequester. it's a washington beltway lie that we can't live with $600 billion of outlays for defense, 50% more than we had in 2000 and we've had no new industrial enemies come after us since then that we can't live with 600 billion in domestic discretionary spending. again, 200 billion more than bill clinton left in real dollars today's dollars. and i don't think he was starving. >> in any deal we see out of ryan and patty murray a joke? >> it's a total joke. and i would hope that at least some of the people on the progressive side would understand if they don't get at entitlement reform and revenue raising now it's going to be far worse later. and the republicans on the tea party side would be right to reject this deal because it's nothing but a beltway scam. >> bloomer surveillance jargon alert there. david stockman using the word progressive. i beli
of an air defense zone. and companies are spending a bit more for holiday parties this year. get ready to drink out. party budgets have grown slightly over last year. spending has been slowly rising after employers cut back during the recession. those are your top headlines. >> i'm having coconut water this year only. >> why is that? >> i am staying healthy. >> i thought i saw you having with the onset. so, our morning must read. more on the life of nelson mandela. i have a chart and i want to talk to matt dowd. the red circle was the intention of america when sanctions began. you can see the decline in real economic growth. the blue vertical line was the presidency of nelson mandela in 1994. you and i remember this. .onald reagan said no congress pushed it back to him. president bush senior went along with congress as he came into office. >> most people forgot the ronald reagan vetoed the sanctions. that was one of the main pressure points and changing what happened. it is, i think that he in the end came along and saw -- but he stood in line. >> you cannot even describe the tension a
spiked since china announced an air defense zone that covers islands at the center of a territorial dispute. abe says the relationship between tokyo and beijing can never be severed. world leaders and well-wishers are mourning the death of nelson mandela. you're looking at live pictures of people outside his home. the former south african president died yesterday come aged 95. atlet's take a closer look mandela's life and the legacy he leaves behind. take a listen. >> the free man taking his first steps into a new south africa. >> from prisoner to president, nelson mandela's 1990 release end ofil signaled the south africa's racist policy of apartheid. on to become the country's first truly democratically elected leader. >> i, nelson mandela, do hereby to be faithful to the republic of south africa. a born in a small village to local chief, mandela was one of 13 children and the first member of his family to attend school. in the 1940's, he began opposing minority's policy of apartheid laws that segregated society. first, mandela was inspired by approach of nonviolent resistance. as
defense zone has caused apprehend -- apprehension in the region. the vice president wrapped up a two-day visit to the country and travels next to south korea. super bowl advertising is already sold out. executives at fox saying there was strong demand for the first new york area super bowl. the game usually sells out early january. a30-second spot reportedly sold for millions of dollars each. the rockefeller center christmas tree was lit last night. i was there. it was lovely. it took 45,000 lights to illuminate the 76-foot-high norway spruce. topped off by nine and a half foot-high swell rossi -- swa rowki arts. theour feet higher than tree and scarlet fu's the living room. >> my whole mcmansion thing. >> i didn't see it live because it took too long and i had to go to bed. >> and they have a whole ceremony. >> singing and all of that stuff. >> miley cyrus? >> i don't know. we have the morning must-read. who hasn't? >> i do. i am looking at carl icahn, a tweet that came out late yesterday. notice, gave a proposal to call a vote to increase by back row gram but level.the $150 billion
there are not that many strategic buyers. you have to look at financial buyers, and then hopefully maybe a defense contractor or somebody larger to step in. >> do with those big gains, are you willing to put principle over profit? >> i've had that question from some other people. this company is going to be worth what it is when they sell it. whilee to recognize that public companies might have gone up in value, private companies, to us, the value has not changed. we do not know what it is until they sell the company. >> but it raises tough questions for investors like you am a to 70s point. stephanie's to point. when do you say to cerberus, just get rid of it. i don't care what you get for it? say to cerberus, "just get rid of it, i don't care what you get for it?" to many teachers, so we have to look for it to perform. we will be encouraging them to sell it. we will look at all our options. cerberus knows that. we are evaluating all of our investments with them. but they cover a lot of other partners that have very different points of view. there are a lot of split points of view on this issue.
china, i've been to seven large cities in china. say in defense of frankly the chinese, the pollution is not bad across the entire country. again, having been there, i have seen some very bad solution. also seen some very clear and very beautiful cities. .t's not all bad >> i have to check it out. >> 23 and me. genetic testing firm has announced it will stop providing its main service. amid an f.d.a. regulatory review. if you remember last month the the -- demanded the company stop marketing its d.n.a. testing device. issues, 23 and me was selling a medical device intended to diagnose diseases the f.d.a.roval from that's a big no-no, even if you are married to one of the google. of not helping the company's case? well, those two divorced. and a few days ago a customer filed a $5 million class-action lawsuit against the company. that it wills still continue to provide customers with ancestry datamation and raw genetic without interpretation which is still pretty cool. ishink this company fascinating. i wish i could get my hands on a everything tested. >> can't you? >> they're not allow
Search Results 0 to 23 of about 24 (some duplicates have been removed)